Will present a non-traditional budget to the country - Presidential Secretary

Secretary to the President P. B. Jayasundera said that he believes a budget with a new vision and programme that goes beyond the traditional budget will be presented to the country this time.

He stated that the priority will be given to the fields of green economy, renewable energy, information technology and digital governance and special attention has been drawn to increase the income of the country working within the National policy framework Vistas of Prosperity and Splendour.

Secretary to the President, P. B. Jayasundera and Secretary to the Ministry of Finance S.R. Attygalle responded to the questions raised by journalists at the virtual media conference held at the Presidential Media Centre, today (November 02).

The media briefing was organized under the theme “Future Budget and the Economic Situation of the Country”.

The production volume of goods and services should be increased to generate revenue for the country. Therefore, revenue policies that can increase the volume of goods and services will be included in this budget. The Secretary pointed out that the rural agrarian economy should be uplifted and the development of infrastructure facilities in this regard has been identified as a priority.

The Secretary to the President said that an attractive country should be created for local entrepreneurs, new investors as well as tourists and in addition to the country’s resources, new investment opportunities would be created for the country through these initiatives.

Many in the region are looking at our country to obtain financial advantages of its geographical location. The Secretary to the President pointed out that their economic revival requires alternative centers and that this economic revival will not take place within the existing economic model but on the requirements based on a green economy, renewable energy, information technology and digital governance.

The Secretary to the President commented extensively on the damage caused to the world economy by the Covid pandemic and its impact on Sri Lanka. He also explained the payment of salaries to public servants, the rest of the expenditures that are being made without any deductions and the economic process carried out by the government without disrupting the day-to-day lives of the people.

The supply chains in the world as well as in our country were disrupted due to the covid-19 pandemic. The Secretary to the President pointed out that the country’s production needs to be enhanced and distribution methods should be properly created. He also expressed confidence that the removal of inter-provincial travel restrictions would help achieve the country’s return to normalcy.

Finance Ministry Secretary S. R. Attygalle said a new economic growth is expected along with the normalization of the country. The Finance Secretary pointed out that continuing to widen the budget deficit was not in the best interest of the country and that this year’s budget will focus on reducing that gap.

-PMD